Fishman Jay A Ltd. MI lowered its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,271 shares of the social networking company's stock after selling 4,160 shares during the period. Meta Platforms comprises 5.2% of Fishman Jay A Ltd. MI's investment portfolio, making the stock its 6th biggest position. Fishman Jay A Ltd. MI's holdings in Meta Platforms were worth $47,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Meta Platforms in the fourth quarter valued at approximately $45,000. Stuart Chaussee & Associates Inc. acquired a new stake in Meta Platforms during the fourth quarter worth approximately $47,000. Finally, Principia Wealth Advisory LLC lifted its position in shares of Meta Platforms by 53.6% during the 1st quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
META traded down $3.52 on Wednesday, hitting $708.68. 9,285,562 shares of the company were exchanged, compared to its average volume of 14,488,533. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $1.78 trillion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The business's fifty day moving average is $629.38 and its 200 day moving average is $624.96.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company's revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.71 EPS. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Monday, June 16th. Meta Platforms's dividend payout ratio is currently 8.19%.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Benchmark dropped their price objective on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Roth Capital lifted their target price on Meta Platforms from $580.00 to $620.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Pivotal Research decreased their target price on Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group lifted their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $712.69.
Get Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 5,057 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at $10,855,043.68. This trade represents a 23.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total value of $9,796,340.32. Following the transaction, the chief executive officer now owns 57,533 shares of the company's stock, valued at $40,862,237.92. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,312 shares of company stock valued at $83,503,034 in the last 90 days. 13.61% of the stock is currently owned by insiders.
Meta Platforms Profile
(
Free Report)
Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.
Further Reading
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
